Omaha daily bee., 1887-05-09
THE WEEK IN WALL STREET.
A Decided improvement Follows
Beartsh Movement.

NEW YORK, May s.-TSpecial Telegram to
the BEE. while the stock speculation dur
ing the greater part of the week was con-
fined to operators inside Of the walls OF the
stock exchange, and while the market at in.
tervals degenerated into mere traders one,
yet there were some wide fluctuations such
as do not usually occur under that condition
OF affairs. The bears were In control at the
start and succeeded In bringing about de-
cline OF nearly points In New England,
and made lighter impression on other
shares, but when the railway traffic returns
for the fourth week of April came to hand
and figures generally showed an increase
over last year, whereas those operating on
short side of account had been predicting a
heavy falling off, there was marked rever-
sal OF the course of prices. This was COM
plete surprise for the bears and they made
is an improvement. The street was
treated to several sensations, one being
In Fort Worth Il Denver City, which jumped
over IA points on covering by those who had
sold the week short against deposits of the
same in the trust company, according to an
agreement under which subscriptions were
made to the construction company now
building extensions; and another in Rock
Island, which rose points. the advance hav-
ing been started by the reports of a ''melon,"
and afterward materially assisted by the
bidding uD process on the part OF one of
the boldest of traders. Some other stocks
Tennessee coal and iron, Milwaukee, Lake
Shore Il Western and Alton Il Terre Haute,
rose 3(944 points, and the rest OF the list to
smaller extent, the Vanderbilts, Changers,
specalties having been conspicuously strong
After the demand from the shorts had been
supplied and London did not send the buy
ing, orders. that were expected, the room
ira md oil mol hQn hat lnnr rnI IN
lists, paying particular attention to New
England. While the events of the week have
again demonstrated that 1t is much easier to
lift than depress prices, it is to be said that
the market Is narrow one, and operators do
not wait long OH either side for results,
which conduces to rapidity of changes.
In railway bonds large business was done
and in some instances the changes were un-
usually important. Among those that were
prominent in this respect were the Wa
bashes, which rose 19(dG11 points on rumors
of settlement with the purchasing commit.
tee, and Green Bay incomes, which jumped
~ points on the increased earnings and on
reports that efforts were being made in the
interest of certain roads to obtain control Of
the line.
AS the time approaches for rates of interest
place their funds In good railway mortgages,
especially as the traffic returns of the roads
are more favorableI than have been expected
under the interstate commerce law
Governments were lower. particularly for
4s, for which the demand was less active.
Foreign exchanges were alternately firm
and weak. The limited supply of CONNER
clal bills would have led to an advance early
mand. The latter had its influence near the
close when bankers bills became more
abundant With the appearance of these
bills the market weakened and the final busi-
ness, was done at the lowest quotations
Money on call, during the greater part of